Anant Raj Stock Dips 4% on QIP Launch at Rs 695.83 Floor Price

Anant Raj Ltd's shares plunged 4% to Rs 707.15 by mid-morning after the real estate firm kicked off a qualified institutional placement (QIP) at a floor price of Rs 695.83 per share, per SEBI regulations. A potential 5% discount could drop it to around Rs 661. The data-center focused developer eyes up to Rs 1,100 crore in fundraising, sources told CNBC-TV18, to fuel expansion amid booming demand. The board's nod came Tuesday, with pricing to be set via book-running lead managers. At 10:55 a.m., the stock was off 4.6% from its Rs 735.60 close, reflecting dilution worries in a hot sector.